"It is tremendously disheartening that we part ways due to completely unfounded claims," O'Reilly said in the statement. "But that is the unfortunate reality many of us in the public eye must live with today."

But the reality is more than 6 women have accused O'Reilly of sexual harassment.

Earlier this month, The New York Times found that O'Reilly and Fox News had paid out $13 million to 5 women to settle sexual-harassment claims against the host.

As a result more than 50 companies have pulled ads from the show, hurting Fox New's revenue.

But this is a stunning downfall for the man who anchors the most lucrative broadcast on cable news.

"Over the past 20 years at Fox News, I have been extremely proud to launch and lead one of the most successful news programs in history, which has consistently informed and entertained millions of Americans and significantly contributed to building Fox into the dominant news network in television," O'Reilly said.